Lack of finances. Being in this situation is sure hard to get off the ground, but that does not mean you cannot. Besides applying for a loan, you can get a venture capital fund in Singapore instead. You see, there are venture capital firms out there who are willing to help businesses in any way they can as long as they could earn a profit from it. So, here, look at the questions they might ask you when you apply for one.
1. Are there market and revenue opportunities in your business?
Most venture capital firms in Singapore would ask this question to guarantee their investment will be worth it. So, make sure to provide them with numbers on how they will benefit from your business after the VC invested.
2. Who are your competitors, and what makes you different?
Well, of course, they also need to know your competitors. So, they will have an idea if you have an edge that is worth investing for. So, make sure to entice them more with what you can offer that others don’t have.
3. Who is your customer base, and how do you gain and retain them?
Since they will be giving you a venture capital fund, they need to know who will use your products and services. How do you plan to entice them to buy and support your brand? Answering this question will help them feel rest assured investing in your business.
4. Can you tell us the risk and predicted growth potential of your business?
In this case, you have to be honest. Let the VC firm know what your weaknesses and strengths are. Most VC firms love hearing these details, so they would grasp if they can help you out or not.
5. How will you use the venture capital fund?
Lastly, they need to know how well you can manage the funding you will receive from them. Aside from your proposal, the VC firm needs to see your sincerity, too! In short, your efforts.
Remember these questions so you would know better what to answer when they ask you. In any case, you need a venture capital right away, apply at Golden Equator Ventures. They offer venture capital not only in tech companies but also to startups. So, what are you still waiting for? Submit your application today!
